Golar Increases Ownership in Golar LNG Energy (Bermuda)

Golar LNG Limited today announced that in two private transactions with international institutional investors and a related party it has increased its ownership of Golar LNG Energy Limited from 61.1% to 90.5% with agreements to acquire an additional 69,841,044 Golar Energy shares.

The sellers will receive one newly-issued Golar share for every 6.06 Golar Energy shares acquired. The shares will be issued at $30.30.

The share acquisitions have been organised in two transactions. In the first transaction Golar has acquired 36,300,891 shares from international institutional investors and in the second transaction has acquired 33,540,153 from World Shipholding Limited, the Company’s major shareholder. In first transaction shares will be issued with immediate effect. In the second transaction the shares will be issued upon filing of a prospectus. The two transactions will increase the Company’s share capital by 11,524,911.

With the successful formation of Golar LNG Partners L.P., the Board of Directors of the Company believes that the increase in ownership of Golar Energy best serves the Company’s strategy. While long-term contracted assets will be offered to Golar LNG Partners L.P. for acquisition, Golar will continue to develop long-term contracted projects within the LNG midstream sector as well as shorter term business and its LNG trading business. Golar will also hold a significant stake in Golar LNG Partners L.P. as well as its general partner and its incentive distribution rights.

ABG Sundal Collier ASA, Carnegie ASA, RS Platou Markets AS advised the Company on the private exchange transaction.

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Source: Golar LNG, April 26, 2011;